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Hudson’s Bay owner Richard Baker at the Lord & Taylor store on 5th Ave in New York City.
Hudson’s Bay owner Richard Baker at the Lord & Taylor store on 5th Ave in New York City.
(Michael Falco For The Globe and Mail)

Lord & Taylor the jewel in Hudson’s Bay’s IPO

The U.S. economy may be on a loose footing, but you’d never know it from a look at the numbers returned by Lord & Taylor in Hudson’s Bay Co.’s prospectus. The high-end U.S. retailer’s sales figures and growth expectations exceeded those of HBC’s flagship Canadian brand, the Bay.

In preparation for its initial public offering, the company’s documents revealed that sales at Lord & Taylor amounted to $210 (U.S.) per square foot, compared to $133 (Canadian) at the Bay. Same-store sales in the U.S. also beat Canada – especially in 2010 when Lord & Taylor grew by 12.4 per cent, as compared to the Bay’s 2.2 per cent.